Professor: Dr. Simona Trandafir
Catalog Description: Introduction to economically efficient resource management, the development of management regimes that support a sustainable economy; valuation, property rights, market structure, dynamic resource management
The primary objective of this course is to outline the need for and the means of providing economically efficient resource management. The focus will be on both non-renewable and renewable resources with an emphasis on developing management regimes that support a sustainable economy. To facilitate this process, we will refresh your understanding of economic theory, focusing on the underpinnings of supply and demand and their connection with production and consumer preferences. In addition, the incompatibility of individual and societal objectives will be outlined as they relate to the management of non-renewable and renewable resources. Finally, management regimes which align individual and social objectives will be discussed that center on internalizing the externalities associated with inefficient resource management.
By the end of the semester students will be able to:
Dr. Dr. Simona Trandafir
Visiting Assistant Professor
Department of Environmental and Natural Resource Economics
211 Kingston Coastal Institute
University of Rhode Island
Dr. Trandafir is an environmental economist who specializes in transportation economics. Her current research interests are:
This course will help you understand why markets sometimes fail and why some categories of natural resources tend to be overused and what regulators can do about these issues. This course takes the EEC 105 (the prerequisite) one step further by using cool concepts, tools, and methods in economics to provide answers to these questions. Its ultimate aim is to equip you with a solid foundation in environmental economics knowledge on which you can build in upper level undergraduate or graduate classes.
Thus, this course is a requirement for environmental and natural resource economics majors and a prerequisite for several other upper level courses.
This course is useful for those interested in pursuing careers as economists in environmental business and marketing, consulting, and government agencies such as EPA, NOAA, and USDA.